WMU seeks extension on Cole-Gilmore agreement

May 6, 2008

KALAMAZOO--Acting at their May 2 meeting, Western Michigan
University trustees authorized the University administration
to begin negotiating an extension to the original property agreement
for the former Cole-Gilmore location in downtown Kalamazoo.

When WMU obtained the property in December 2001, a seven-year
reverter clause affirmed that it would be utilized in concert
with local economic development efforts by Dec. 31, 2008. Because
plans for the property's use are not finalized, WMU intends to
negotiate an extension that would give the University an additional
five years to bring its plans to fruition before the property
reverts.